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Donald Trump orders his cabinet to review Dodd-Frank regulations. (Pablo Martinez Monsivais/AP)

The GOP's list of grievances against the Dodd-Frank financial reform law is long, but near the top is a rule that requires companies to disclose the ratio between the compensation of its CEO and that of the median worker. The Wall Street Journal reports that an executive order signed last week concerning financial regulation would at least delay the implementation of the rule, which was supposed to go into effect last year.

Why it was included in Dodd Frank: As an effort to create more transparency around CEO pay, and pressure boards into slowing its rise.

What critics say: The ratio is difficult and costly to calculate and gives investors no useful data for evaluating the performance of firms. Furthermore, it may actually encourage companies to outsource more of their labor needs to contractors, a move that could lead to greater economy-wide inequality, even as it lowers intra-firm inequality.

Go deeper

Kendall Baker, author of Sports
9 mins ago - Sports

2021 Tokyo Olympics hang in the balance

Illustration: Aïda Amer/Axios

10 months ago, the Tokyo Olympics were postponed. Now, less than six months ahead of their new start date, the dreaded word is being murmured: "canceled."

Driving the news: The Japanese government has privately concluded that the Games will have to be called off, The Times reports (subscription), citing an unnamed senior government source.

Biden's centrist words, liberal actions

Illustration: Sarah Grillo/Axios

President Biden talks like a soothing centrist. He promises to govern like a soothing centrist. But early moves show that he is keeping his promise to advance a liberal agenda.

Why it matters: Never before has a president done more by executive fiat in such a short period of time than Biden. And those specific actions, coupled with a push for a more progressive slate of regulators and advisers, look more like the Biden of the Democratic primary than the unity-and-restraint Biden of the general election.

2 hours ago - Technology

Review of Trump ban marks major turning point for Facebook

Photo Illustration: Aïda Amer/Axios. Photo: Saul Loeb/AFP via Getty Images

Facebook's decision to ask its new independent Oversight Board to review the company's indefinite suspension of former President Trump is likely to set a critical precedent for how the social media giant handles political speech from world leaders.

What they're saying: "I very much hope and can expect … that they will uphold our decision," Facebook's VP of global affairs Nick Clegg tells Axios.